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Judging by the protests in the streets, yes, yes they are. They were protesting the breaking of their wonderful country. They were protesting the leader who brought them to the brink of catastrophic collapse. They were protesting the system that promised so much but delivered so little.
But is that really the case? Did it fail?
I would contend that socialism in Venezuela didn’t fail. It succeeded in doing exactly what it was meant to do. Socialism takes a country that is in good shape today and siphons off the resources to be redistributed by the government. That happened in Venezuela.
Socialism takes the concept of privatized solutions and turns them on their head until the government has its hands in everything. That happened in Venezuela.
Socialism relies on positive circumstances. For Venezuela, those positive circumstances were the world’s largest oil reserve and a booming economy. But something strange happened. The oil market took a nosedive and since the economy was spread so thin, as socialism invariably does, the country started to collapse. When solutions were needed to fix things, the private market solutions weren’t available to them anymore. Socialism destroyed that. So, with everything reliant on the government to keep things running, the unprepared administration failed.
It wasn’t a disastrous crash in the oil market for anyone other than Venezuela. It’s true that every oil exporting country was harmed to some extent, but they weren’t socialists and therefore had the ability to rebound when the market improved. Socialist Venezuela could not.
There is no way to know what’s about to happen in Venezuela. Only those who have been talking directly to the people know their sentiment towards the socialist system. This will be an important thing to watch going forward.
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